Five Factors that Determine your Credit Score

You’re often reminded of how extremely important your credit (aka FICO) score is. Nowadays, your credit score can determine whether or not you purchase a home for your family, insure your vehicle or take a new job. Yes! That’s correct. Employers are checking the credit scores of potential employees as part of the hiring process. Today, it is more imperative than ever to maintain a competitive credit score. Despite the importance of having good credit, we’ve found that most people fail to understand exactly how their credit score is formulated. They don’t understand the method or formula that determines if ‚Ķ

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Will bankruptcy affect my credit rating?

Our firm receives this question pretty often. So, we’ve decided to answer it on our blog. Yes. Filing for bankruptcy will affect your credit rating.¬†Initially, you may see a sharp decline in your FICO score. Once your debt has been discharged, and you begin making on-time payments and wise financial decisions regarding your credit, you can begin to see your FICO score increase.